The Ministry of Heavy Industry on 9th November 2021 has notified the application forms for the Production Linked Incentive (PLI) scheme for automobile companies and the list of Advanced Automotive Technology Products under this scheme are also notified.
The PLI Scheme for the auto sector envisages to overcome the cost disabilities of the industry for manufacture of Advanced Automotive Technology products in India. The incentive structure will encourage industry to make fresh investments for indigenous global supply chain of Advanced Automotive Technology products. The scheme is open to existing automotive companies as well as new Non-Automotive investor companies (who are currently not in automobile or auto component manufacturing business).
An approved applicant shall be eligible for benefits for 5 consecutive Financial Years. The window for receiving applications will be open for a period of 60 days from the date of its publication in the official Gazette( i.e from 9th November 2021.)
Any eligible product will be incentivized only for once – Component level or Vehicle level.The incentive will be applicable on the Determined Sales Value which is defined as the incremental eligible sales of a particular year over the base year.
